USDJPY — Bearish Bias Below 155.50
USDJPY — Bearish Bias Below 155.50
USDJPY — Bearish Bias Below 155.50
USDJPY remains vulnerable to further downside, with a retest of 155.50 from below potentially acting as resistance. Rejection at this level would reinforce the bearish outlook and favour a move towards the 152.15–151.50 support zone, where the measured-move equality objective converges with major trendline support.
A test of this confluence could set the stage for a more meaningful corrective recovery, potentially targeting the value area low near 157.50.
Immediate resistance: 155.50
Downside objective: 152.15–151.50
Potential recovery target: 157.50
Near-term bearish scenario weakens: a sustained reclaim of 155.50 rather than rejection. To review the technical chart, click here!
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!